The only surprise is that there was no surprise (given yesterday's surprising CPI). So the dots went up -- but so far markets aren't believing it much.
Federal Reserve
Federal Reserve
Wednesday, November 2, 2022
Oh. My. God. The FOMC admits for the first time in this hiking cycle that it has to take lags into account. The scorched earth phase is over.
Federal Reserve
Wednesday, September 21, 2022
Who's the idiot whose "dot" says the funds rate should be 4-5/8% in 2025? Disaster.
Federal Reserve
Wednesday, July 27, 2022
Let's see... the economy has "softened." Worries about China's lockdowns not mentioned. So why, again, must we do a 75 bp rate hike when all the things they were worried about are less worrisome?
Federal Reserve
Wednesday, June 15, 2022
This is bad stuff. The good news is that the market was expecting it, and now it's done.
Federal Reserve
Wednesday, May 4, 2022
Balance sheet run-off is here. But the Fed is admitting some economic weakness, and will take three months to work up to the previously advertised run-off caps.
Federal Reserve
Wednesday, March 16, 2022
Lift-off, and unanimous concern that inflation risk is on the upside with maximum uncertainty.
Federal Reserve
Wednesday, December 15, 2021
The SEP raises inflation estimates, with maximum uncertainty, all to the upside.
Federal Reserve
Wednesday, November 3, 2021
The taper is upon us. Now where was that tantrum? Oh, yeah, there wasn't one.